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Business Law Assignment - Sources of UK Law

Added on - 23 Nov 2020

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Business law1
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................3TASK 1............................................................................................................................................3A. Parliament sovereignty and sources of laws in UK................................................................3Sources of UK Law:....................................................................................................................4B. Role of UK government in making laws and application of statutory and common laws injustice courts................................................................................................................................5Task 2...............................................................................................................................................7Impact of various regulation on business....................................................................................7SECTION 2......................................................................................................................................9a) Appropriate legal advice based on case law or statutes...........................................................9B) Alternative legal solution based on a....................................................................................11different legal framework.........................................................................................................11Conclusion.....................................................................................................................................13REFERENCES..............................................................................................................................14...................................................................................................................................................162
INTRODUCTIONBusiness laws are defined as set of legal regulations which governs the deals or businessinteractions between communities. These business laws are also known as commercial ormercantile laws. Business laws regulates the commercial entities with the implementation ofpartnership laws, contract laws and all regulations related to stakeholders of business. Beforeestablishment of the business, organisations must consider the related legal aspects. The failureto compliance with these legal laws can lead to legal troubles which can not only lead tofinancial penalties but can also damage the success of the business (Arrowsmith and Craven,2016).The report will consider the impact of legal systems on operational activities of business.It will describe the role of UK government in formulating business laws. It will also describevarious sources which enforces the implementation of these business laws. By using the casestudy of JPM the report will analyse the impact of business regulations such as health and safety,equality and data privacy regulations. The report will also explain the various aspects of some ofthe most common business regulations such as winding up petition and contract laws. The reportwill evaluate the alternative legal business solutions for the given case scenarios.TASK 1A. Parliament sovereignty and sources of laws in UKThe regularity of legislative programs by speech of Queen every year demonstrates themessage that in UK parliament is sovereign. The given statement depicts the same meaningreflecting that UK is affirmed in the development of its parliamentary sovereignty. According tothis principle the parliament of UK is considered as the highest legal authority. The parliamenthas the right to amend, implement or abolish any law. With development and growth UKgovernment has also passed various laws which limits the sovereignty of the parliament. Theselaws include human right act 1998, establishment of supreme court and participating decision inEuropean union (Barkan, Bintliff and Whisner, 2015).The laws passed by the parliament cannot be blocked from implementation by thejudicial bodies. The parliament sovereignty law was framed in the law of constitution.Parliament of UK ensures that jurisdiction cannot challenge the parliamentary decisions butparliament must formulate laws which may not bind or restrict the future sessions of theparliament. Another important factor which limits the power of European parliament is European3
union. Eu laws also consider the human rights as the basis for business laws because it aims atwelfare of all participating members. Being a part of the European union, UK has to follow itsregulations and its laws holds superiority over the parliamentary laws.Sources of UK Law:Parliament:The supreme and major authority which is responsible for making laws is parliament ofUK. The parliament can propose the laws by act of parliament or the primary legislations. WhenHouse of Lords and House of commons of UK parliament approve the proposed draft or bill thenit can be formulated further as an act. The implemented act is responsible to create a new law orto modify any existing law. Along with the confirmation and approval from both the House ofCommon and Lords it is also essential as per constitution that monarch must also provide royalassent to the bill (Epstein, 2017). Only then a law can be imposed. It is the responsibility of theUK government to bring laws. The parliament has the authority to impose law with immediateeffect or either law can come into force from any specific date in the future. When a bill isapproved it is read several times in both the houses so that necessary amendments can be madeby concluding its pros and cons. This is achieved by discussions in various sessions of thehouses.European union:The European union (EU) comprises several judicial bodies such as court of justice andfirst instance and tribunal of civil services. UK is bounded with legal regulations and treatiesimplemented by EU. There are binding agreements formulated by EU for its member countries.These agreements are based on objectives and decision making approach of European union. Thefoundation of EU laws is not only dependent of United Kingdom rather they are dependent onvarious treaties like TFEU and Fundamental Rights charter of EU. They also depend oninternational agreements which influences EU as well as general regulations followed by UK. Asa member of European union UK has to follow and implement these laws. These laws cannot bemodified by parliament of UK.Precedents by judicial bodies:The fundamental source of UK law is the precedents made by the judges. Thejudgemental decision of judicial authorities are published in law reports. These reports consist ofcomplete details of judgement criteria, case summary and all associated facts related to the case.4
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